India's Federal Bank gains after unveiling growth strategies for next 3 years

Federal Bank

24/02/2025 07:16

** Shares of Federal Bank  FED.NS  climb as much as 2% to
183.4 rupees, last up 1.6% 
    ** Co, on Friday, laid out plans including increased focus
on current account, savings account and deposits to strengthen
balance sheet, expanding products portfolio 
    ** Co will add 400-450 branches by FY28 
    ** Growth plans to likely support better NIM growth,
positions lender as key player among mid-sized private banks to
deliver sustained profitability and growth - Motilal Oswal 
    ** Centrum Broking analyst says pivot in long term strategy
is the right move but will weigh on near term growth and returns
    ** Avg rating of 30 analysts is "buy" and median PT is 220
rupees, ~20% higher than current price - data compiled by LSEG 
    ** FED gained 28% in 2024


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))